MIRA INFORM REPORT
|
Report No. : |
300949 |
|
Report Date : |
08.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHIVANI DETERGENTS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
448, Goyal Nagar, Flat No. 1, Kalakriti Appartment, |
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|
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Country : |
India |
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|
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Financials (as
on) : |
31.03.2013 |
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|
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Date of Incorporation : |
08.06.1995 |
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|
|
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Com. Reg. No.: |
10-009534 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1.736 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U24243MP1995PTC009534 |
|
|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax
Deduction and Collection Account No.] |
BPLS01889G |
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|
|
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PAN No.: [Permanent Account No.] |
AACCS3744E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Detergent Cakes and Powder. |
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|
|
No. of Employees : |
115 (In Office – 15, In Factory – 100) (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. As per registrar of companies the date of balance sheet (i.e.
financial filed) is shown as 31.03.2014 but the documents related to the financials
of 2014 are not available from any source. As per financials of 2013, overall financial position of the company
is sound and healthy. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Tiwari |
|
Designation : |
Accountant |
|
Contact No.: |
91-7292404080 |
|
Date : |
02.01.2015 |
LOCATIONS
|
Registered Office : |
448, Goyal Nagar, Flat No. 1, Kalakriti Appartment, |
|
Tel. No.: |
91-731-4077016 / 5077016 |
|
Fax No. : |
91-731-4077019 |
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E-Mail : |
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|
|
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Unit I : |
Branch Coder 1, Plot No. 101 J, Sector 1, Pithampur, Dhar – 454 775, |
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Tel. No.: |
91-7292-507344 / 507770 |
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E-Mail : |
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|
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Unit II : |
Plot No. 4-CE, Sector No. 2, Pithampur, Dhar-454775, Madhya Pradesh,
India |
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|
|
|
Ware House 1 : |
14, Laxmi Colony, Devpur, Dhule, Maharashtra, India |
|
|
|
|
Ware House 1 : |
664/B, Samrat Nagar Society, P. O. Vavadi Buzurg, Bambroli Road,
Godra, Gujarat, India |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Chander Lal Bagani |
|
Designation : |
Director |
|
Address : |
11-A, Manish Puri, |
|
Date of Birth/Age : |
11.02.1959 |
|
Date of Appointment : |
29.05.1996 |
|
DIN No.: |
00414024 |
|
|
|
|
Name : |
Mr. Naresh Bagani |
|
Designation : |
Director |
|
Address : |
10, Manish Puri Colony, |
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Date of Birth/Age : |
02.12.1967 |
|
Date of Appointment : |
29.05.1995 |
|
DIN No.: |
00413999 |
|
|
|
|
Name : |
Mr. Mayank Bagani |
|
Designation : |
Additional Director |
|
Address : |
11-A, Manishpuri Extension, Near Paliwal Nagar, Indore-452001, Madhya
Pradesh, India |
|
Date of Birth/Age : |
25.06.1981 |
|
Date of Appointment : |
01.12.2011 |
|
DIN No.: |
05122854 |
|
|
|
|
Name : |
Mr. Suraj Bagani |
|
Designation : |
Additional Director |
|
Address : |
11-A, Manishpuri Extension, Near Paliwal Nagar, Indore-452001, Madhya
Pradesh, India |
|
Date of Birth/Age : |
15.09.1977 |
|
Date of Appointment : |
01.12.2011 |
|
DIN No.: |
05122857 |
|
|
|
|
Name : |
Mr. Ronak Bagani |
|
Designation : |
Additional Director |
|
Address : |
44, Princes Corner No. 44, Saket Nagar, Indore, Madhya Pradesh, India |
|
Date of Birth/Age : |
19.06.1986 |
|
Date of Appointment : |
01.12.2011 |
|
DIN No.: |
05136306 |
KEY EXECUTIVES
|
Name : |
Mr. Tiwari |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Chander Lal Bagani |
4920 |
|
Naresh Bagani |
2210 |
|
Veena Bagani |
1001 |
|
Yamini Bagani |
851 |
|
Sunita Bagani |
2601 |
|
Harish Bagani |
1301 |
|
Devi Bagani |
3051 |
|
Ganpat Lal Goyal |
1 |
|
R. C. Wadhwani |
1 |
|
Preeti Bagani |
1 |
|
Nirmala Bagani |
1401 |
|
Suraj Bagani |
10500 |
|
Saroj Vinayakya |
1 |
|
Usha Vinayakya |
1 |
|
Tikamdas purashvani |
1 |
|
Tikamdas Gunamal |
1 |
|
Pooja Bagani |
1 |
|
Varsha Bagani |
1 |
|
Nisha Jaisinghani |
1 |
|
Vijay Jaisinghani |
1 |
|
Rai Jaisinghani |
1 |
|
Dr. Dhiraj Gada |
1 |
|
Mohan Gopal Das (HUF) |
1 |
|
Bharti Aidasani |
1 |
|
B.K. Goyal |
1 |
|
Sapna Chainani |
1 |
|
Sushila Goyal |
1 |
|
Mayank Bagani |
10001 |
|
Barkha Aidasani |
1 |
|
Kajal Aidasani |
1 |
|
Ramesh Chainani |
1 |
|
Deepti Chainani |
1 |
|
Savita Patwardhan |
1 |
|
Ronak Bagani |
12502 |
|
TOTAL |
50362 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
99.96 |
|
Other top fifty shareholders |
0.04 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Detergent Cakes and Powder. |
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Products : |
Not Divulged |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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Bankers : |
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Facilities : |
SECURED
LOAN (Rs.
In Millions)
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|
Auditors : |
|
|
Name : |
Khandelwal Kakani and Company Chartered Accountants |
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Address : |
8, Johari Palace, 1st Floor, 51, M G Road, Indore – 452 001, Madhya Pradesh, India |
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Pan No.: |
AACFK4164D |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs. 10.000 Millions |
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50362 |
Equity Shares |
Rs.100/- each |
Rs. 5.036 Millions |
|
|
|
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|
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17362 |
Equity Shares |
Rs.100/- each |
Rs. 1.736 Millions |
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|
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|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1.736 |
1.736 |
1.736 |
|
(b) Reserves & Surplus |
108.775 |
81.679 |
56.369 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
110.511 |
83.415 |
58.105 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
81.692 |
75.927 |
64.567 |
|
(b) Deferred tax liabilities (Net) |
2.214 |
2.490 |
2.313 |
|
(c) Other long term
liabilities |
0.000 |
0.751 |
0.500 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
83.906 |
79.168 |
67.380 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
3.998 |
7.507 |
55.509 |
|
(b) Trade
payables |
31.469 |
54.673 |
73.268 |
|
(c) Other
current liabilities |
40.824 |
34.549 |
32.336 |
|
(d) Short-term
provisions |
10.067 |
13.252 |
5.511 |
|
Total Current
Liabilities (4) |
86.358 |
109.981 |
166.624 |
|
|
|
|
|
|
TOTAL |
280.775 |
272.564 |
292.109 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
145.923 |
128.418 |
77.440 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
11.326 |
12.799 |
64.016 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2.147 |
1.454 |
1.196 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
159.396 |
142.671 |
142.652 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
62.914 |
59.221 |
77.281 |
|
(c) Trade
receivables |
45.365 |
54.519 |
37.576 |
|
(d) Cash
and cash equivalents |
5.517 |
4.637 |
5.269 |
|
(e)
Short-term loans and advances |
7.583 |
11.516 |
12.140 |
|
(f) Other
current assets |
0.000 |
0.000 |
17.191 |
|
Total
Current Assets |
121.379 |
129.893 |
149.457 |
|
|
|
|
|
|
TOTAL |
280.775 |
272.564 |
292.109 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
1146.063 |
1065.677 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
1105.892 |
1030.360 |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
40.171 |
35.317 |
30.273 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
13.075 |
11.507 |
9.843 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
27.096 |
23.810 |
20.430 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
77.182 |
53.371 |
32.941 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
104.278 |
77.182 |
53.371 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1560.65 |
1371.39 |
1176.71 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
1210.000 |
|
|
|
|
|
The above information has been parted by Mr. Tiwari (Accountant).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.91 |
13.60 |
13.27 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.36 |
0.42 |
0.52 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.78 |
1.00 |
2.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.41 |
1.18 |
0.90 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
1.736 |
1.736 |
1.736 |
|
Reserves & Surplus |
56.369 |
81.679 |
108.775 |
|
Net
worth |
58.105 |
83.415 |
110.511 |
|
|
|
|
|
|
long-term borrowings |
64.567 |
75.927 |
81.692 |
|
Short term borrowings |
55.509 |
7.507 |
3.998 |
|
Total
borrowings |
120.076 |
83.434 |
85.690 |
|
Debt/Equity
ratio |
2.067 |
1.000 |
0.775 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Sales |
1065.677 |
1146.063 |
|
|
7.543 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1065.677 |
1146.063 |
|
Profit |
23.810 |
27.096 |
|
|
2.23% |
2.36% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last two years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
LONG TERM
BORROWING |
|
|
|
Rupee term loans from others |
51.984 |
34.879 |
|
Total |
51.984 |
34.879 |
REVIEW OF OPERATION
The company has recorded growth in both total revenue and profitability during the year. The net profit for the year has been Rs. 27.096 Millions as against Rs. 23.810 Millions during the previous financial year. The Directors are hopeful of maintaining the growth graph in the forthcoming years too.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
80031444 |
23/08/2014 * |
92,500,000.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST |
C18552588 |
* Date of charge modification
FIXED ASSETS
- Factory Buildings
- Plant and Machinery
- Scoter
- Furniture
- Car
- Computer
- Motor Cycle
- Fax Machine
- Electrical Installation
- New Factory Buildings
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or anti-terrorism
sanction laws or whose assets were seized, blocked, frozen or ordered forfeited
for violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.38 |
|
|
1 |
Rs. 96.84 |
|
Euro |
1 |
Rs. 75.66 |
INFORMATION DETAILS
|
Information Gathered
by : |
GAY |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
ASH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.